As per the recent scenario, the market of best cryptocurrencies is in a bearish position nowadays. Currencies like Ethereum along with bitcoin have lost their value by up to 50% and the most shocking position is for investors because they have to face the uncertain ups and down on every next step in the case of some specific cryptocurrencies.
Some cryptocurrencies even reached zero due to the bearish heat of the crypto market. There is still hope because Bitcoin trading is presently at $22,000 whereas it was trading below $20,000. Although the crypto market is showing indications of a resurgence. As a result, several cryptocurrencies still have a chance to rise after a decline in the cryptocurrency market.
1. Ethereum (ETH)
In the crypto sphere, Ethereum came in second place to bitcoin. When Ethereum was founded in 2013, to speculate within the market, Ethereum has grown to be a great cryptocurrency as its technology is very unique.
The Ethereum blockchain allows for the creation of cryptocurrencies and NFTs that were developed on the Ethereum network.
2. Polkadot (DOT)
Polkadot is a cryptocurrency that has a lot of potentials and has endured for a long time in digital media. It is a web3 project, and as it scales even better than Ethereum does, it is used to build decentralized web3 platforms.
Compared to Ethereum, the Polkadot cryptocurrency performs better in terms of speed and transaction costs. It does, however, support the claim of a centralized internet industry. , sometimes known as web3.
3. Solana (SOL)
Another cryptocurrency with limitless potential is Solana (SOL). Ethereum competes with the Solana platform in the areas of low transaction costs and speed.
It is simple to predict that Ethereum and the Solana platform rank higher in these two crucial categories. However, the Ethereum network executes transactions at an average rate of 13 per second, which slows down the transaction process and ultimately leads to high-care issues.
The Solana network is speedier and has lower transaction fees thanks to its ability to process 66,000 transactions per second.
An AMM (automated market maker) that was introduced in 2018 is known as UniSwap (UNI). This token aims to stimulate automation and transparent token trading with those who have hold of the tokens to make it more efficient in terms of decentralized trading. In 2023, it’s expected to reach new heights.
5. Filecoin (FIL)
It is yet another decentralized web3 server that functions like a filing cabinet. It can be used as a workaround and a passive income source in the event of centralized cloud storage.
Videos, documents, photos, and a variety of other types of data are not currently available for storage on Filecoin. The platform’s primary goal, however, is to provide strong protection for the firm’s sensitive and secret documents and information.
6. Shiba Inu (SHIB)
Shiba Inu is a different cryptocurrency that comes before others on the list of the top cryptocurrencies (Shiba). Shiba coin had previously outperformed Dogecoins by more than 800%, prompting the question “Is it a Dogecoin killer?”
However, since SHIB’s introduction in 2020, cryptocurrency analysts have continued to pay close attention to its price fluctuation. However, it has outperformed competing coins that were introduced to the market prior to its inception. In the brand-new year of 2023, Shibu Inu is anticipated to surpass the Cardano cryptocurrency.